Balancing Growth And Uncertainty: Analyst Projects Adobe's AI Revenue Trajectory Amid Figma Acquisition Concerns
Portfolio Pulse from Shivani Kumaresan
B of A Securities analyst Brad Sills has upgraded Adobe Inc. (NASDAQ:ADBE) from Neutral to Buy and raised the price target from $575 to $630. The analyst views Adobe as an emerging AI leader and projects its AI revenue to be $300 million in FY24, growing to $960 million by FY26. However, there is uncertainty about the proposed Figma acquisition.
August 17, 2023 | 4:28 pm
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POSITIVE IMPACT
Adobe's stock has been upgraded and its price target raised, indicating positive short-term impact. However, uncertainty around the Figma acquisition could introduce volatility.
The upgrade from Neutral to Buy and the raised price target indicate a positive outlook for Adobe's stock. The company's position as an emerging AI leader could drive growth. However, uncertainty around the Figma acquisition could introduce volatility.
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